ConocoPhillips (NYSE:COP) Stock Holdings Cut by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in ConocoPhillips (NYSE:COP) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 58,244 shares of the energy producer’s stock after selling 150 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in ConocoPhillips were worth $5,981,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. State Street Corp raised its position in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC lifted its stake in ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after buying an additional 3,541,504 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.6 %

COP opened at $98.34 on Friday. The company has a market capitalization of $113.18 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The business has a 50-day moving average of $101.05 and a 200-day moving average of $106.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

Insider Buying and Selling

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COP shares. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average price target of $135.89.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.